Davis Selected Advisers Sells 162 Shares of Everest Group, Ltd. $EG

Davis Selected Advisers lessened its stake in Everest Group, Ltd. (NYSE:EG) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,500 shares of the company’s stock after selling 162 shares during the period. Davis Selected Advisers owned about 0.09% of Everest Group worth $13,424,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. SVB Wealth LLC bought a new stake in Everest Group in the first quarter valued at approximately $30,000. Zions Bancorporation National Association UT bought a new stake in Everest Group during the 1st quarter valued at $34,000. Board of the Pension Protection Fund purchased a new stake in Everest Group during the 2nd quarter valued at $34,000. WPG Advisers LLC purchased a new stake in shares of Everest Group during the first quarter worth about $37,000. Finally, Allworth Financial LP grew its stake in shares of Everest Group by 96.8% in the second quarter. Allworth Financial LP now owns 183 shares of the company’s stock worth $62,000 after purchasing an additional 90 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Evercore ISI lifted their price objective on Everest Group from $380.00 to $384.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. Barclays reduced their price objective on shares of Everest Group from $425.00 to $365.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Wall Street Zen cut shares of Everest Group from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Everest Group in a research report on Wednesday, October 8th. Finally, Raymond James Financial restated an “outperform” rating and issued a $350.00 price objective on shares of Everest Group in a report on Monday, November 3rd. Five analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $372.36.

Everest Group Price Performance

Shares of EG opened at $327.19 on Friday. Everest Group, Ltd. has a fifty-two week low of $302.44 and a fifty-two week high of $392.78. The firm’s 50-day simple moving average is $339.39 and its two-hundred day simple moving average is $339.48. The stock has a market cap of $13.73 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 0.25 and a beta of 0.47. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38.

Everest Group (NYSE:EG) last released its earnings results on Monday, October 27th. The company reported $7.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $13.39 by ($5.85). Everest Group had a net margin of 3.12% and a return on equity of 3.81%. The business had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same quarter in the previous year, the business posted $11.80 earnings per share. Everest Group’s revenue for the quarter was up .8% on a year-over-year basis. Analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Wednesday, November 26th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, November 26th. Everest Group’s payout ratio is 60.93%.

Insider Buying and Selling at Everest Group

In related news, Director William F. Galtney, Jr. purchased 11,385 shares of Everest Group stock in a transaction dated Wednesday, October 29th. The stock was purchased at an average cost of $307.38 per share, for a total transaction of $3,499,521.30. Following the completion of the acquisition, the director directly owned 45,491 shares of the company’s stock, valued at $13,983,023.58. The trade was a 33.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Allan Levine purchased 3,100 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was purchased at an average price of $306.08 per share, for a total transaction of $948,848.00. Following the purchase, the director owned 4,153 shares in the company, valued at $1,271,150.24. This represents a 294.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is owned by company insiders.

About Everest Group

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally. The company operates through two segment, Insurance and Reinsurance. The Reinsurance segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.